BuzzFeed is laying off about 100 staffers, part of a restructuring that mostly impacts sales, marketing and other business-side employees in the U.S., CEO Jonah Peretti said in a memo shared with his staff.

Some UK news and business staff will also lose their jobs. BuzzFeed currently employees about 1,700 people globally.

BuzzFeed, like other digital publishers, has had to navigate an increasingly turbulent online advertising environment dominated by Facebook and Google.

“As our strategy evolves, we need to evolve our organization, too — particularly our business team, which was built to support direct sold (or native) advertising but will need to bring in different, more diverse expertise to support these new lines of business,” Peretti wrote as part of the staff memo.

Until recently, BuzzFeed relied solely on native ads, essentially videos or articles created by its team on behalf of advertisers.

Peretti went on to say that “unfortunately, this means we have to say goodbye to some talented colleagues whose work has helped us tremendously.”

BuzzFeed is also searching for a new chief operating officer, with current president Greg Coleman transitioning into an advisory role.

It is unclear if or how the restructuring might impact a potential IPO. Though BuzzFeed hasn’t publicly acknowledged any kind of timeline for a public offering, there had been speculation that such an offering could happen in 2018. The Wall Street Journal reported recently that any such plans were put on hold, since BuzzFeed was on pace to miss its revenue target for the year of about $350 million by 15% to 20%.

For his part, Peretti refers to 2017 as a “transformative year” for the company.

“Our business is more diverse and balanced than it was a year ago and, very importantly, for the first time a quarter of our annual revenue will come from sources other than direct sold advertising," he said. .”